LocalBitcoins

Users of localbitcoins.com, a popular cryptocurrency exchange platform, in over 15 countries from different continents are crying helplessly after being denied access to withdraw their Bitcoins from their personal accounts. This event came as a result of a surprise blackmail from the EU Commission.

Adoption in digital currencies, especially Bitcoin (BTC), appears to be growing at a high rate in the Hong Kong SAR. Last week, a Bitcoin startup firm LocalBitcoins saw its peak trading volume ever in the special administrative region Hong Kong.

The Danish Tax Agency, Skattestyrelsen, announced on January 14 via their website, that it will be gathering trader data from 3 digital currency exchanges including localbitcoins to guarantee that clients are fully paying the right taxes. Data about foreign citizens, companies and organizations will be shared with other nations.

An assessment of crypto usage is not an easy thing to be done, since it is based on population, environment diffusion and legal background. And for this matter, therefore, this assessment has been made based on data from Localbitcoins, Coinatmradar and Coinmap. It has also been made based on the circulation of ATMs and legal acceptance of the currency in these top 10 nations in question.

LocalBitcoins, a peer-to-peer (P2P) trading platform, hit record-breaking Bitcoin (BTC) trading volumes in Egypt, Argentina and Venezuela in October 2018. In other places such as Croatia and Switzerland, trading volumes have struck annual lows.

Bitcoin and cryptocurrency exchanges have always been irregular in China, especially when it comes to LocalBitcoin. Every now and then the volume changes. Last week the nation set a new all-time trading volume record on the LocalBitcoins platform . This shows that the demand for Bitcoin ceases to slow down in China. Furthermore, this shows that issuing a permanent ban on Bitcoin will never be in China’s interest.

The Portable Bitcoin ATM presented by LocalBitcoins in October 2016, may cause MSB compliance issues. In a conversation with CoinIdol.com, Anti-Money Laundering specialist Joe Ciccolo advised potential consumers to heed four warnings before they begin doing business with the portable Bitcoin ATM (BTM).